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Article: Oklahoma AG opinion released on oversight of mortgage brokers
- Article from:
- THE JOURNAL RECORD
- Article date:
- March 16, 2006
- Author:
CopyrightCopyright 2006 THE JOURNAL RECORD. Provided by ProQuest LLC. (Hide copyright information)
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A long-awaited attorney general's opinion requested last fall to
help address some confusion regarding Department of Consumer Credit
oversight of mortgage brokers was made public Wednesday with both
sides claiming victory with the findings in the opinion.
Rather than resolve a situation that had to do with DOCC examiners
assessing fines against mortgage brokers alleged to have overcharged
consumers on lending fees, the opinion may have only partly remedied
what has been a contentious situation between the oversight agency
and one of the groups they are charged to govern.
The main issue had to do with mortgage brokers charging a loan
origination fee in addition to a mortgage broker fee, both ...